The economic turmoil continues to hit businesses hard. Insolvency activity remains high, with corporate bankruptcies reaching a 10-year high of 23,900 cases. Similar to the increasing consumer debt, the number of personal bankruptcies is also rising significantly.
The recent rapid increase in the number of bankruptcies also has its good side: Among the companies that had to give up, many were zombie companies that were only able to survive for so long thanks to special circumstances and that damaged the economy.
During 2024, there has been a rise in the number of insolvency proceedings, of 22%, with bankruptcies being the most abundant, representing 79%, and special proceedings growing the most, 192%, to reach the highest figure of the last decade, 9,015 proceedings in total.
Across the whole of Switzerland, the number of bankruptcies rose by 10.8% from January to September 2024. In September alone, the increase amounted to 28.5% compared with September 2023.
CRIF AG has analysed how many businesses were set up in the first five months of 2023, how many companies filed for bankruptcy and how many businesses had been completely deleted from the register.
Average increase of Postponement of Debt Payment Obligations (PKPU) in Indonesia in the last 3 years was about 30%. In 2021 was 9.55%, underlying instability of Indonesian economy, even if improving.
This pandemic and the restrictions to contain it have achieved what the passing of the years and other crises have failed to do for many century-old and historic bars: their closure.
September brought about a 78% increase in the number of bankruptcies in the hotel and catering industry. Furthermore, this loss cannot be compensated for by entrepreneurial activity, which has not only…